<p><span>Countryside is to wind down its Housebuilding arm, with the business set to “focus all of its resources” on its Partnerships division.</span><br/></p> <p><span>Following a strategic review of the potential separation of Housebuilding, the housebuilder’s board has decided to start the process of closing the division. To deal with Housebuilding’s assets “including its exceptional people and management”, the company will establish a new Partnerships region for the Home Counties, led by Philip Chapman, current ceo of Housebuilding, who will report to group ceo Iain McPherson</span><span>.</span></p> <p><span>Under this new region, current Housebuilding sites identified as suitable for the Partnerships mixed-tenure model will move to Partnerships. Those active sites and pieces of land that do not fit the Partnerships mould will be sold or completed “</span><span>in line with our commitments to partners and customers”.</span></p> <p><span>Countryside said it would not deploy any further capital in building schemes “</span><span>that do not fit the Partnerships model”. </span></p> <p><span>This strategy is expected to generate at least £450 million of surplus cash by September 2023 which will be returned to shareholders.</span></p> <p><span>The business anticipates that the new Partnerships Home Counties will produce an annualised adjusted operating profit of “at least” £60 million by 2023.</span></p> <p><span>And it plans to …